As the US presidential election on November 5 approaches, Brad Garlinghouse, the CEO of the crypto company Ripple Labs, recently expressed optimism that whoever wins this year's election will make the USA more supportive of cryptos.

"This is the most important election we have had, but I also believe that no matter what happens, we will have a Congress that supports crypto and innovation more than ever before," he pointed out.

Will the USA become more friendly to the crypto industry?

Ripple is a long-standing crypto company that operates a global payment business, with its main clients being banks and financial institutions. About 95% of the company's operations are conducted outside the USA, reflecting to some extent the controversial environment the USA had towards the crypto industry in the past.

Previously, Brad Garlinghouse had expressed concerns about crypto regulations in the USA. In 2020, the US Securities and Exchange Commission sued Ripple Labs, but the company achieved a significant victory in the lawsuit last year. Perhaps it was this case that led Garlinghouse to advise many fintech startups this Wednesday to "register outside the USA."

However, he remains optimistic about the long-term development direction of the industry.

"Anyone who doesn't believe that we (the crypto community) will ultimately get better, hasn't noticed... If we look back in 10 years at how the USA has been making mistakes for many years, this will just be a speed bump, and the industry will continue to thrive."

Ripple has donated at least $45 million to the political action committee Fairshake that supports cryptos, and its co-founder Chris Larsen recently donated $11 million to the campaign of Kamala Harris.

Galaxy Haus stated: "Obviously, Trump has been very proactive in supporting cryptos in a certain way for a long time and saying he is the crypto president... The Harris team, on the other hand, is more subtle. However, this week, they publicly made some of the most constructive comments."

"Kamala Harris comes from Silicon Valley and has been supporting technology for many years," he added. "She has been relatively quiet on this topic, but I think no matter what happens, we will see a change."

Farewell to the "failed" Biden government?

Karlinhaus stated: "Whatever happens, we will bid farewell to the failed policies of the Biden administration."

He pointed out that the US government had been hostile towards cryptos before, "not only the US Securities and Exchange Commission. (US Commodity Futures Trading Commission) also had hostility towards cryptos; the US Treasury Department had a hostile attitude towards cryptos."

Galaxy Haus said: "This (Biden administration) is a hostile government, no matter what happens in the next election, we will start over... The scale of change may still be debatable, there are still many differences. But we will see progress forward, and I am certainly looking forward to it."

Although Karlinhaus has not publicly supported any presidential candidate, he stated this week that he supports John Deaton. Deaton is a lawyer who is running for the seat of Massachusetts Senator Elizabeth Warren. Warren has been critical of the crypto industry, seeking additional regulation in this area.

Editor/Rocky